Buying before Selling
More and more property owners are getting themselves into financial hardship through purchasing their dream home before they have sold the current property they are living in. They do this by entering into Bridging Finance to pay for the property they are purchasing which is then repaid once they sell their current property.
This all sounds great in theory especially in a rising market and if a real estate agent has given an overstated value of the owners current property they trying to sell. But with rising interest rates and a declining property market many owners haven’t been able to sell their current property in the timeframe nor for the price they require.